Steel Dynamics Provides Strategic Growth Update Regarding its Flat Roll Steel Operations

About this update from Steel Dynamics, Inc.

[{"type":"text","content":"FORT WAYNE, Ind., April 15, 2021 /PRNewswire/ -- Today Steel Dynamics, Inc. (NASDAQ/GS: STLD) provided a strategic update concerning its ongoing and new flat roll steel growth initiatives. \n\"We are incredibly excited about the progress being made at our Sinton Texas EAF Flat Roll Steel Mill,\" stated Mark D. Millett, President and Chief Executive Officer. \"Sinton represents transformational growth for Steel Dynamics and long-term value creation for our teams, communities, customers, and investors. Given the success of our Sinton construction team, we are planning to add two additional value-added flat roll coating lines more quickly than originally planned. The site is yet to be determined but it will be located in the Southern U.S., to provide Sinton with similar diversification and higher-margin product capabilities as our Butler and Columbus Flat Roll Steel divisions. \n\"We also plan to construct two more value-added flat roll coating lines to be located in the Midwest U.S. to support the growing demand for coated flat roll steel products and to further increase the diversification and cash generation capability of our Midwest flat roll steel operations. Our unique operating culture, coupled with our considerable experience in successfully constructing and operating highly-profitable EAF steel mills and flat roll steel coating lines, positions us well to execute these strategic initiatives and continue to grow,\" said Millett. \nTwo Southern U.S. Flat Roll Steel Coating Line Investments \nThe company plans to invest $225 million in two new flat roll steel coating lines to be located in the Southern U.S. to support its Sinton Steel Mill that is planned to begin production in late summer 2021. The lines will be comprised of a 300,000-ton flat roll galvanizing line with Galvalume® coating capability and a 240,000-ton paint line. Galvalume® products represent the fasted growing flat roll steel market in the United States, primarily serving the metal building industry. This market has historically sourced as much as 45 percent of their needs from foreign imports. Customers prefer the company's differentiated supply-chain. This has resulted in the company's existing lines consistently running at full capacity, through both increased consumption and market share gain. \nSite location selection and engineering specifications are ...

More updates from Steel Dynamics, Inc.